KATHMANDU, DECEMBER 19
The Monetary Management Department of the Nepal Rastra Bank (NRB) has announced it will auction on Tuesday development bonds worth five billion rupees with a maturity period of four years.
Banks and financial institutions, non-banking financial institutions, insurance companies, organisations and Nepali citizens can take part in the online auction.
According to the central bank, the interest rate of the bond issued will be determined semi-annually and interest tax will be charged on the accrued interest.
The buyers can purchase bonds of minimum Rs 50,000 while a maximum of the amount equivalent to the whole number obtained when bonds, not exceeding the total size, are divided by 50,000.
Eighty-five per cent of the bonds worth Rs 4.25 billion will be available for purchase through competitive bidding while 15 per cent of the bonds worth Rs 750 million will be available in non-competitive bidding. It is mentioned in the notice that the principal payment of the bond will be on January 21, 2026.
A version of this article appears in the print on December 20, 2022, of The Himalayan Times.
